T. Rowe Price deepens retail presence in Singapore with retirement funds

US firm forging partnerships, launching investment solutions tailored for local investors

- Angela Tan Senior Business Correspondent

T. Rowe Price, a US asset manager with a focus on retirement investment, has been expanding its retail presence in Singapore by forging new strategic partnerships and introducing investment solutions tailored for local investors.

Since establishing its presence in Singapore in 1996, the company which manages US$1.7 trillion (S$2.2 trillion) in clients' assets, of which US$1.1 trillion is retirement-related - has steadily grown its local offering, Mr Glen Lee, chief executive of T. Rowe Price Singapore, told The Straits Times.

It now has 28 recognised funds in the Republic for retail investors, said Mr Lee, who also oversees the Asia ex-Japan intermediary and Southeast Asia institutional business. The funds include the Global Focused Growth Equity Fund, US All-Cap Opportunities Equity Fund and the Multi-Asset Global Income Fund.

The American firm has made available its solutions to new distributors and has a partnership with Standard Chartered Bank.

Standard Chartered was the first bank in Singapore to partner T. Rowe Price, which made its first foray into the local retail fund market in 2022.

"These initiatives have brought differentiated multi-asset, equity and fixed income solutions to both retail and affluent clients," said Mr Lee.

On Sept 29, it launched the T. Rowe Price Funds - Retirement Allocation Funds in a tie-up with HSBC for six months.